2024-11-12T11:43:53-06:00 2023-12-31 390758449 WIPFLI LLP 2501 W BELTLINE HWY STE 501 MADISON WI 53713 990 2023-01-01 363312341 INDUSTRIAL COUNCIL OF NEARWEST CHICAGO INDU 3124213941 320 N DAMEN AVENUE 1ST FLOOR CHICAGO IL 60612 STEVE DEBRETTO EXECUTIVE DIRECTOR 3124213941 2024-11-10 1 0 QUINN DUGAN P02267768 6082741980 2024-11-10 2023 2024-10-15 13:58:12Z STEVE DEBRETTO 320 N DAMEN AVENUE 1ST FLOOR CHICAGO IL 60612 8612313 0 X INDUSTRIALCOUNCIL.COM X 1984 IL STRENGTHEN COMPANIES IN THE KINZIE INDUSTRIAL CORRIDOR AND FACILITATE ECONOMIC AND COMMUNITY DEVELOPMENT BY PROVIDING SERVICES AND INCUBATOR SPACE. 15 15 54 15 0 0 2281565 2008238 6498028 6540568 11543 16606 40825 46901 8831961 8612313 0 0 0 0 2778393 3072605 0 0 395832 6002059 6735032 8780452 9807637 51509 -1195324 34041028 32080463 19433388 18871507 14607640 13208956 STRENGTHEN COMPANIES IN THE KINZIE INDUSTRIAL CORRIDOR AND FACILITATE ECONOMIC AND COMMUNITY DEVELOPMENT BY PROVIDING SERVICES AND INCUBATOR SPACE. 0 0 5892029 0 6363336 RENT SPACE TO TENANTS AND PROVIDE BUSINESS DEVELOPMENT SERVICES. 2200175 0 177232 PROVIDE BUSINESS RETENTION SERVICES TO COMPANIES IN THE NEARWEST SIDE AND IN THE INCUBATOR TO STRENGTHEN BUSINESS AND RETAIN JOBS. PROVIDE TRAINING TO LOW-INCOME RESIDENTS OF CHICAGO (INCLUDING CULINARY TRAININGS AND COMPUTER TRAINING). 8092204 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 42 0 54 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X TIFFANY EDDINGS 3124213941 320 N DAMEN AVENUE 1ST FLOOR CHICAGO IL 60612 UNAH CHOI PRESIDENT 2.00 X X 0 0 0 CALVIN GIN VICE PRESIDENT 2.00 X X 0 0 0 KELLY DEADY SECRETARY 2.00 X X 0 0 0 TIM GARCIA TREASURER 2.00 X X 0 0 0 EVERETT BELL VICE TREASURER 2.00 X X 0 0 0 DAVID AVRAM MEMBER 2.00 X 0 0 0 JUAN AYALA MEMBER 2.00 X 0 0 0 ANDY BIZUB MEMBER 2.00 X 0 0 0 HARVEY CAMINS MEMBER 2.00 X 0 0 0 MARCIA HUNDT MEMBER 2.00 X 0 0 0 SIMONE MITCHELL-PETERSON MEMBER 2.00 X 0 0 0 JOE WEIN MEMBER 2.00 X 0 0 0 ANDREW WIELGUS MEMBER 2.00 X 0 0 0 SHOUSHANA YARBROUGH MEMBER 2.00 X 0 0 0 EDWARD YOU MEMBER 2.00 X 0 0 0 STEVE DEBRETTO EXECUTIVE DIRECTOR 40.00 X 196232 0 283 PRISCILLA TORRENCE CHIEF WORKFORCE DEVELOPMEN 40.00 X 110294 0 1287 NATALIE SHMULIK CHIEF STRATEGY AND INCUBAT 40.00 X 153565 0 459 ROBERT CLIMACK CHIEF FACILITIES OFFICER 40.00 X 110665 0 0 570756 0 2029 4 0 1 0 0 52234 1956004 2008238 BASE RENT 531120 6178336 6178336 MANAGEMENT FEES 531310 185000 185000 SPECIAL EVENTS 900099 145964 145964 SERVICE FEES 900099 31268 31268 6540568 16606 16606 46901 46901 46901 8612313 6540568 0 63507 196515 166948 20519 9048 2358793 2003864 246318 108611 52158 44917 5025 2216 238186 205121 22947 10118 226953 191945 24295 10713 50943 50943 125641 125641 38787 7513 30660 614 86403 86403 160612 73717 74338 12557 245465 185144 45184 15137 4408875 3671200 551729 185946 42444 32055 7782 2607 60333 45506 11106 3721 72762 54881 13394 4487 405636 305955 74667 25014 304015 291057 9706 3252 PROGRAMS AND EVENTS 704069 704069 DUES AND SUBSCRIPTIONS 29047 21909 5347 1791 9807637 8092204 1319601 395832 3163700 1581827 54918 537574 761895 349538 94649 21997 20432830 10325947 9617838 10106883 420608 477880 4579459 4330959 15347961 14673805 34041028 32080463 1211507 1175602 122951 123377 17447738 16908997 651192 663531 19433388 18871507 X 14344011 12621243 263629 587713 14607640 13208956 34041028 32080463 -1195324 -203360 0 X 0 1 X 1 0 X 1925796 1515218 979824 2281565 2008238 8710641 1925796 1515218 979824 2281565 2008238 8710641 770730 7939911 289 878 685 11543 16606 30001 9039 9039 40825 46901 87726 8837407 22337760 0.89840 0.94210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 289000 289000 19264506 9618280 9646226 39747 39747 0 754144 667920 86224 85433 85433 10106883 OTHER SECURITITES 4330959 F 4330959 DEFERRED RENT RECEIVABLE 362935 RIGHT-OF-USE ASSET 14310870 14673805 SECURITY DEPOSITS 663531 663531 X 8408953 -203360 -203360 8612313 0 8612313 9807637 0 9807637 0 9807637 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE. ACCORDINGLY, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. MANAGEMENT DOES NOT BELIEVE THERE ARE ANY UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023. X X 0 0 0 0 0 0 0 0 0 STEVE DEBRETTO EXECUTIVE DIRECTOR 188431 0 6890 0 911 0 0 0 283 0 196515 0 0 0 NATALIE SHMULIK CHIEF STRATEGY AND INCUBAT 147265 0 5880 0 420 0 0 0 459 0 154024 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B COPY OF FORM 990 WAS DISTRIBUTED VIA EMAIL TO BOARD MEMBERS TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBER RESPONSES ON A YEARLY BASIS TO CONFLICT OF INTEREST STATEMENT. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DETERMINES WHETHER A CONFLICT EXISTS, AND IF ONE DOES, THE PERSON WITH THE CONFLICT ABSTAINS FROM VOTING ON THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE HUMAN RESOURCE COMMITTE CONDUCTS PERFORMANCE REVIEWS OF THE EXECUTIVE DIRECTOR. THE BOARD PERIODICALLY OBTAINS AN INDEPENDENT ANALYST'S REPORT WITH MARKET COMPARABILITY DATA FOR THE EXECUTIVE DIRECTOR'S SALARY. THE LAST ONE PROCURED PRIOR TO 2022 WAS IN 2020. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST THE GOVERNING DOUCMENTS WILL BE MADE AVAILABLE.